Thursday, August 14, 2008

Around The Rumormill

Breaking News ---

Sources have just learned that a ownership group has agreed in principle to buy the Oklahoma City Red Rocks for just under $725,000,000.News of the sale comes just days after several Majors owner began to question the dedication of the soon to be previous owner dalailama12 to make the club more than a cash machine.The deal will include over $150,000,000 in cash, $390,000,000 in borrowed from Société Générale & $185,000,000 in assumed debt. The Majors owner will vote on approval of the sale during their meetings August 15-16

The group is said to have outbid 3 other potential suitors for the fledgling franchise.Whether the team remains in OKC beyond this season is not known at this time.The sale if approved is set to be the highest priced sale of a club in Majors world history.

The team is on pace to finish a franchise record worst 27-135(.167) & has been losing money at a rapid pace under the current ownership. a steady decline in fan attendance as well as low merchandise sales is believed to have been the key factor in the sale.